Dubai Holding Launches Jumeirah Beach Residential Complex
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Sulaia: Dubai Holding & brookfield Launch $326M Luxury Beachfront Residences in Jumeirah 1
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Published: October 26, 2023 | Last Updated: October 26, 2023
Project Overview: Sulaia Residences
Dubai Holding Investments, the investment arm of Dubai Holding, in partnership with Brookfield Properties, has announced the launch of Sulaia, a luxury residential complex in Dubai’s prestigious Jumeirah 1 neighborhood. The project, operating under the “Marras” brand (a subsidiary of Dubai Holding Real Estate), represents a significant investment in Dubai’s real estate market, estimated at AED 1.2 billion (approximately $326 million USD).
Detailed Project Specifications
Sulaia will span 40 acres and comprise nine buildings. The development offers a diverse range of housing options, catering to various lifestyle preferences.These include apartments with two, three, four, and five bedrooms, alongside exclusive penthouse apartments. Adding to the exclusivity, the project features 18 standalone villas with private gardens and swimming pools, and also duplex units.
| unit Type | Quantity | Key Features |
|---|---|---|
| 2-Bedroom apartments | (Data unavailable – to be released) | Modern design, beachfront views |
| 3-Bedroom Apartments | (Data unavailable – to be released) | Spacious layouts, premium finishes |
| 4-Bedroom Apartments | (Data unavailable – to be released) | Family-friendly design, ample space |
| 5-Bedroom Apartments | (Data unavailable – to be released) | Luxury living, panoramic views |
| Penthouse Apartments | (Data unavailable - to be released) | Exclusive amenities, private terraces |
| villas (with private gardens & pools) | 18 | ultimate privacy, bespoke design |
| Duplex units | (Data unavailable – to be released) | multi-level living, modern aesthetics |
Strategic Partnership & Market Context
The collaboration between Dubai Holding and Brookfield Properties underscores Dubai’s commitment to attracting foreign investment and fostering strategic partnerships. Omar Karim, CEO of Dubai Holding for Investments, emphasized the partnership’s role in solidifying Dubai’s position as a global city. Brookfield Properties, a global real estate leader, brings significant expertise and a proven track record to the project.
Dubai’s real estate market has experienced robust growth in recent years, driven by factors such as a strong economy, favorable government policies, and a growing population. According to Property Finder’s Q3 2023 report, average property prices in Dubai increased by 15% year-on-year. Jumeirah 1,in particular,is a highly sought-after location due to its prime beachfront location,